Deciphera came public last fall, first trading around $20 per share. It then printed a high near $30 in February but has spent the rest of this winter and spring forming a base. Until last week…
$DCPH had a massive breakout Monday of last week signaling to the crowd that something is afoot. It has since spent the last 8 trading days forming a high flag, consolidating this breakout, during which time HOLLY sniffed an opportunity to participate on the next leg up. If our recent entry in $USAT is any indication, this is a pattern worth paying attention to. As such, we’re getting in here.
SWING TRADERS: after much deliberation (too many great choices!), I’ve decided to add Deciphera Pharma $DCPH to the @tradeideas HOLLY Hot List at tomorrow’s opening print. Recent IPO that looks like it’s beginning to gain some traction. https://t.co/0jtsUNxyyl pic.twitter.com/kPoGyTS4Jl
— Sean McLaughlin 📈 (@chicagosean) June 13, 2018
We added at today’s opening print of $38.35 and we’ll be holding this name in the HOLLY Hot List until such time we experience a 20% pullback from the highs. Size accordingly.
HOLLY Hot List update
Stocks continue to perform for us. It’s been a while since we’ve been stopped out of a position, which alone is a pretty powerful indicator that this bull market has plenty of juice left. Over the past 5 trading days, the biggest gainers for us have been $FIVE (+29%) $NTNX (+11%) and $TDOC (+10%). Meanwhile, our laggards have been $CEIX (-8%) $HFC (-7%) and $VRS (-6%). Buy the dip?
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Good luck out there!
~ Sean McLaughlin (@chicagosean)